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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: NickSE who wrote (22432)	1/11/1999 2:38:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

60 on OSX has been a support as well as resistance, nice to see the chart I think once we have this basing on 60 completed we may attempt 63-64. I will like you to keep an eye on Oil Brent prices and would appreciate a chart on that to be watched closely..

To: NickSE who wrote (22432)	1/11/1999 3:00:00 AM
From: IQBAL LATIF	Read Replies (4) \| Respond to of 50167

I will be closely watching for future action of SPH sectors like BKX I would like to see 874 been taken out and 401 on SOX broken if this rally needs to go up to 1230 on SPH.. Keep a close watch on transportation also..As far as these sectors keep going strong and DOW tires to reach the psychological 10,000 mark we may see 1230 as the point where market would like to go first before it retreats, I would never like to miss a chance on DDT and continue a strategy where a fall may be rewarded..If NDx has to break DDT will break much more ferociously that is my reasoning fwiw.. So far I have seen a single test of 401 proximity and a retreat and I would not consider even a test of 360 a break of trend on SOX however now any move further needs that 401 old high to be taken out, for me DDT 499 is interesting a combo where 440 long put is bought and a 15% out of money on 100 - composite is sold as far out as 1750 level makes sense to me, the reason is simple I just don't like to waste monies on puts that loose premiums when market movesd opposite to my expectations, for me always a straddle works great. One needs to improvise where calender spreads and SPH 1200 longs for March can become a self financing defensive strategy, I would think that in case we get this break of lagging indicators above their present reistances like BKX Transportation and OSX we may see SPH least affected and composite the most affected. I see a perfect play on divergences here in this market, I am repalcing all my in the monies calls which I had placed on 1750 break to cash and will wait until next Monday to decide a strategy going forward, too much of returns sometime are just not believeable and I wanted to touch this cash.